Tag Archives: Gray Divorce

Carol Hughes: Advice About Divorce and Adult Children

| November 29, 2016
Choose the best option for your divorce - learn more at our July 19 workshop.

Psychotherapist, Divorce Coach, Child Specialist, and Mediator Dr. Carol Hughes was recently featured on the website Bottom Line Inc., in the article “What To Do When Your Parents Divorce – And You’re Already a Grown Up.”

With the holidays ahead, Dr. Hughes explains what the adult children of divorced or divorcing parents need to know to respond to common situations, including:

  • Feelings of abandonment are normal, even for adult children
  • Divorcing parents may lean on adult children for support, and why it can hurt your OWN marriage
  • Divorce parents may battle each other through their adult children, causing conflict between parent and child, or among siblings
  • Old holiday traditions may be broken; consider establishing new holiday traditions
  • It’s normal and it’s OK to feel relieved about your parents’ divorce
  • Four ways divorcing parents can limit the fallout from their divorce for their adult children

The website Bottom Line provides wellness and wealth advice from experts, including Dr. Hughes.  Its approach offers “useful, expert, actionable information to help you navigate your world, saving time and money along the way.”

Read the entire article at this link.

 

The Effect of California Propositions 60 and 90 on Your Divorce

| October 10, 2016
Get advice from a skilled family law attorney, financial professional or qualified real estate agent to make good decisions about your property when facing a divorce.

by Diana L. Martinez
Collaborative Lawyer and Mediator, West Coast Law & Mediation, APC

When you are trying to navigate a divorce, there are many issues you need to address. If you own property in California, your decisions about your real estate can be among the most challenging, and perilous, if you are not fully informed.

One area often overlooked when making decisions about real property are the tax consequences. The tax implications can end up making a significant impact on your financial well-being, especially if you are part of the current wave of “gray divorces” among adults 55 years and older.

Many older couples who own property qualify for a lower property tax rate under California’s original Proposition 13. At the discretion of each county in California, Proposition 60 and Proposition 90 allow qualifying sellers to carry their Proposition 13 tax base on their original property with them towards the purchase of a new property of equal or lesser value. (Prop 60 governs real estate sales and purchases in the same county; Prop 90 governs real estates sales and purchases between two California counties).

Proposition 13 protects longtime homeowners against escalating property taxes as the value of their property … Read More “The Effect of California Propositions 60 and 90 on Your Divorce”

Social Security and How It Affects Your Divorce

| July 28, 2016
Know your options when it comes to your Social Security benefits if you are divorced and nearing retirement age. A financial professional can help.

by Tracy S. McKenney, CFP®, CDFA™
Irvine, California

When a couple divorces, you may wonder whether anything happens to their Social Security benefits.  What if the husband has been employed the entire marriage and the wife has stayed home with the children?  Do they split the husband’s Social Security benefit at retirement?  What if one of them remarries?

First, divorce laws are different from state to state.  Social Security is a federal program and can’t be overridden by

divorce laws or a divorce judgment in any individual state including California.  California courts cannot issue a divorce judgment to ‘split’ Social Security payments at retirement, because the federal rules governing Social Security override them.

What does the law say about Social Security and Divorce?

As of summer 2016, if a person has been married longer than 10 years and then gets divorced, the ex-spouse can receive 50 percent of their former spouse’s Social Security benefit –OR- 100 percent of their own Social Security benefit.  Notice: you can collect only ONE benefit, not both.

For example, “Dolly” and “Dennis” got divorced when Dolly was age 52, and Dennis was age 54.  Dennis decided to start collecting Social Security when he turned … Read More “Social Security and How It Affects Your Divorce”

How to Talk About Your Divorce With Your Adult Children

| April 23, 2016
Adult children are not immune from emotional trauma when older couples get divorced.

by Carol R. Hughes, Ph.D., LMFT

One of the most difficult steps in the divorce process is talking about your decision with your adult children. It may feel like admitting a failure, or letting them down.

Divorce is a major life crisis for all family members and should be treated as such, even when your children are no longer “kids.” Children who are adults when their parents divorced consistently report years later the news of their parents’ divorce “rocked the very foundation” of their world.

You are making a good start and doing the best you can. You are reading this blog post. Give yourself permission not to be perfect. No one is perfect. Breathe deeply; you and your children can get through this difficult time together. These tips will help guide you through this process.

  1. Schedule a time when you can speak with your children together and preferably in person. Siblings benefit from the support system they can provide each other. When you are scheduling the time to talk, tell them you have something important to discuss with them. Assure them no one is sick or dying. If they ask you what you want to talk about, tell them
… Read More “How to Talk About Your Divorce With Your Adult Children”

The Gray Divorce

| March 18, 2016
Game of chess

by Leslee J. Newman, CFLS, Family Law Attorney

Although divorce rates in the United States have seen a decrease in the last decade, divorce rates for couples over 50 have doubled. According to U.S. Census Bureau data, in 2010, one out of every 20 people in the U.S. who divorced was over the age of 65!   Now, with the retirement of the “Baby Boom” generation (persons born between 1946 and 1967), the numbers of divorcing seniors is expected to escalate.  This phenomenon is often referred to as “gray divorce.”

Some reasons for this increase in gray divorce include the following:

  • There’s no longer a social stigma for seniors divorcing.
  • Seniors are living longer and are generally healthier.
  • Our culture promotes happiness.

A few years ago, a Chicago area billboard advertised divorce with a message that life was too short to be miserable.

Are you a senior and contemplating divorce? Have you helped a parent, colleague or friend who was in their 50s, 60s, or older get through their divorce? Does it make sense financially for a senior married couple to divorce?